Step 4  – Your loan processor has completed the up-front review of your file and ordered third party services and your file is now in line to be reviewed by an underwriter. WooHoo!  The underwriter follows guidelines based on your specific loan program to ensure income, assets, credit and collateral

YOUR ACTION: Awesome!  Your loan is in line to be underwritten and we should be hearing your initial approval feedback in the next few days.  Your loan processor will circle back with a list of initial approval conditions (ie provide an updated paystub, explain something on credit, verify the source of a large deposit into your bank, etc…)  This is a totally normal part of the process, do not worry!  At this stage it’s important to be sure any money you may be using for closing day (ie down payment, closing costs) has already been deposited into your bank account.  For any non-payroll deposits (ie gift funds, expense reimbursements, etc.) please be sure to discuss with your loan officer to avoid any confusion in underwriting.  

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